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9. Condemnation. Th®r proceeds of Toy award or claim for damages, direct or consequential, in connection with <br />any condertmation or other taking of tiny pan of the Property, or for conveyance in lieu of condemnation, are hereb <br />assigned <br />m the event m a total taking of the Property. the proceeds %hall be applied to the sums seen by It ur y <br />rod t is see it <br />Instrument, whether or not then due, with any excess paid to Borrower, In the event of a partial taking of the Propqrly, <br />unless Borrower and Lander otherwise agree in writing, the sums secured by this Security Instrument shall be- red" by <br />the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately <br />before the taking, divided by (b) the fair market value of the Property immediately before the taking, Any balance shall be <br />paid to Borrower. <br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor Offers to <br />make an award Or SQUIC 4 Claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is <br />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or <br />to the sums secured by this Security Instrument, whether or not then due. <br />VnIcss Lender and Borrower otherwise agree inwriting, any application of proceeds to principal %hall not extend or <br />postpone the due date or the monthly payments referred to in paragraphs I and 2 or change the amount of such payments, <br />10. Borrower Not Released, Forbearance By Leader Not a Waiver. Extension of the time for payment or <br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in <br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successom in interest. <br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for <br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason,of any demand made <br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy <br />shall not be a waiver of or preclude the exercise of any right or remedy. <br />11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of <br />this Security Instrument shall bind and benefit the Successors and assigns of Lender and Borrower, subject to the provisions <br />of paragraph 17. Borrower's covenants and agreements shall bcjoint and several. Any Borrower who co-signs this Security <br />Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey <br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay <br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, <br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without <br />that Borrower's consent. <br />' 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan <br />� charges, and that law is finally interpreted = that the interest or other °= charges collected or to be collected in <br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount <br />` necessary o reduce the charge to .~ permitted limit; "an""" <br />� <br />permitted limits will be refunded to Borrower. Lender may choose to make his refund by reducing the principal "~= <br />' <br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will xv treated uwu <br />» <br />partial prepayment ~*aom any prepayment charge under the mw^ <br />13. Legidatim Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of <br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, <br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies <br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of <br />paragraph 17. <br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by <br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the <br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by <br />first class mail to Lender's address stated herein or any other addresi Lender designates by notice to Borrower. Any notice <br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided <br />in this 15. Governing This Security Instrument shall be governed by federal law and the law of the <br />jurisdiction in which the Property is located. In the event that <br />Note conflicts with applicable law, such conflict shall not affect other provisions or this Security Instrument v, the Note <br />| <br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the <br />i <br />Note are declared mh*severable. <br />( <br />16. Borrower's uv the Nm^and oymio��o�/ym�mmm`t. <br />( x� mn�m�°x�e' Property orm Beneficial Interest /nBorrower. o all o, any part v //=Pmpertrmmy <br />interest muis sou or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural <br />person) without Lender's <br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by <br />federal law as of the date of this Security Instrument. <br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period <br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by <br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any <br />remedies permitted by this Security Instrument without further notice or demand on Borrower. <br />18, Borrowees Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have <br />enforcement of this Security Instrument discontinued at any time prior to the earlier of.- (a) 5 days (or such other period as <br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this <br />Security Instrument; or (b) entry of a judgment enforcing (his Sec-.,.-ity Instrument. Those conditions are that Borrower: <br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration <br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this <br />Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may <br />reasonably require massure that the lien ^r this Security Instrument, Lender's rights m the Property and Borrower's � <br />obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by | <br />Borrower, this Security Instrument and the obligations secured hereby shall remain fully effiective as if no acceleration had <br />occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. <br />NoN-UNIFORM COVENANTS, Borrower and Lender further covenant and agree as follows: <br />0. AcftkradW Remodles. Lender shadll give notice to Borrower prior to acceleration following Borrowees <br />branch of my covement or agreement In Me Security Instrusaw (but rAK prior to acceleration under paragraphs 13 and 17 <br />saidess sopilleable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the <br />delllvd# (a) s date, a" less duss 30 days from the diste the notice is given to Borrower, by which the default most be cured, <br />and (* disit fiallare to ewe the default on or before the date specified In The notice may result in acceleration of the sums <br />moved by this Securky Instrianent and ask of the Property. The notice shall further inform Borrower of the right to <br />'---- After Acceleration and the right <br />dd$MOIBNT~ to Mallevelled sad Oak. Ifthe default in net curial on or before the date specifitA in the notice, Leader <br />NA las option may require Immodiale payment In full a( all mum secured by this Security Instrument without further <br />demand mad my Invoke On power of ad@ and any other remedies permitted by applicable Is". Leader shall be entitled to <br />collect all tapeasee Incurred In pursuing the remedies provided in this paragraph 19, Including. but not limited to. <br />reasonable stiorneys' fees am! 00111411 Of Hills @VklMftd <br />' c | <br />____ <br />